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BINARY OPTIONS TRADING TODAY

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Friday’s trading session ended in positive territory and it looks like international markets are taking their cue from the way things have been developing in the US. Asian shares this morning are heading higher, much in the same fashion they did last week when the NIKKEI closer a week of gains more than 7% higher. Although this morning, the NIKKEI is only up 0.05% and had moments in the red, other Asian markets are storming higher. Most binary options traders tend to completely avoid indices like the Hang Seng, but after the move this morning of over 2.34% and above resistance at 23500, binary traders may want to take a renewed look.
 

The underlying factors pushing Asian index prices higher are the US’s lack of tapering of the stimulus program and China’s reforms. The Chinese Communist Party keyed in world markets to a very surprising series of economic reforms late last week. The basic idea behind said reforms was to make the market a more significant source of direction. In fact, they stated that they would literally allow the market to play a “decisive” role in the economy, something that would simply be unfathomable just a few short years ago.

 

No major news is expected for the day ahead and as such, charts will be the primary focus for traders. After all, the forex pairs have been making some interesting moves. For example, the EUR/USD, which recently broke past the 1.35 level and is looking north, has an increased volatility index reading. Although only trading near 1.3505 and surely not a massive break, it’s still a move to keep in mind today as things progress.

 

However, we must admit that the current patterns on the daily and hourly charts for the EUR/USD aren’t very bullish despite the move higher by the EUR/USD. Although we do believe there is still more upside pressure, the momentum indicators aren’t very amenable to the current trend and this makes us worry that the move will stall.

The only things working for the EUR/USD to the upside at the moment are the current trend itself as well as the increased risk appetite surrounding the markets. With a weaker dollar, it is also expected that the USD based assets like stocks will increase in value today. However, don’t expect such a move on commodities. They are left outside this equation at least in the case of Oil.

 

Oil prices are already considered “overbought” by most analysts and from a technical perspective, things look rather capped at the moment.

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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